Going long tonight. Like to see us all the way up to 1100 again by tomorrow.

In TNA, ERX and riding AAPL calls.a

Also watch Uncle Ben testifying tonight! The market most important guy!

This post has been edited by danmooncake: Jun 9 2010, 10:41 PM

Closing update
Dow 9899.25 -40.73 -0.41%
Nasdaq 2158.85 -11.72 -0.54%
S&P 500 1055.69 -6.31 -0.59%

Market turns south again after reaching SP 1077. Can't even touch 1080.

Trailing stops got me out - small profits only :
TNA 5%
ERX 4%

AAPL calls 0% - nothing here.. hedge fund selling 'em gotta wait to make another dive, probably around 230'ish

Jump into bear TZA @ 7.7 as the market dives.

BP (aka. Big Problem now) drops to 52weeks low at $29, took down the entire energy sector.

Heck, i think we need total destruction here to another leg down before this market can crawl itself out of this
zombie state.

This post has been edited by danmooncake: Jun 10 2010, 05:16 AM

Could be.. just two more trading sessions to go before the weekend. The funds are selling hard even strong stocks like AAPL, they want to take the market down and BP rumors that it will likely bankrupt is just an excuse here. They getting ready for the big fall.

If we break through SP 1040, all SELL signals will fire off.
At the bottom, we will likely get a strong BUY signal and fire back up. This could good opportunity here.

This post has been edited by danmooncake: Jun 10 2010, 08:46 AM

Everything is cheap.. yes, market may open green, turn red, or open red, turn green.
Very choppy and volatile until all these European mess get cleaned up.

All the charts for TCK, HL and X are ugly now. X is the worst. You may want hold off buying for another week of so. Materials and commodities stocks tend to get hammered quicker.

The pretty one is LVS. Not sure if it can hang on.. MGM already dropping off.

It will be interesting to see if the bears can make it drop below SP 1040 this week. If not, it will be one heck on trading opportunity again in this tight channel.

Anyway, I've looking at C again, looks like it is leveling off here (3.6 ~ 3.9).

---

Added on June 10, 2010, 8:29 pmGood evening,

Pre-market Futures looking better again for Dow and SP but could be another head fake today. Lots of conservative
funds are selling into any kind of rally to raise cash. Gotta to see if SP can overcome the flash crash low
and stay above 1070.

BP climbing back from oversold condition - nice 10% pop in premarket but should stay away from this thing until
Gulf spill has some kind of resolution.

Update 10:00pm:
Nice pop! Got stopped out immediately out of TZA. Riding the longs again. Let see if we can see more gains there.
Like to see SP 1085 and hold to close.


This post has been edited by danmooncake: Jun 10 2010, 10:03 PM

The snapback won't last. BP will be sold off again.
I'm tempted to short BP it get rally back to 35/36.

I think we'll close green today.

Internals are showing more advancing than declining stocks..most likely caused by shorts covering.

But, a lot of pressure are being put on tech stocks - major funds are selling into this rally.
'coz the trend is still down.

I just think it is better to re-short at a higher level. I'm waiting to see if we can go above 1080 or perhaps closer to 1090.

Closing update:
Dow 10172.53 +273.28 +2.76%
Nasdaq 2218.71 +59.86 +2.77%
S&P 500 1086.84 +31.15 +2.95%


Wow! The bulls finally awake and managed to push through 10K and close above SP 1080. Very nice!
If we can close by these same numbers tomorrow (even if we flatline), this would be a good sign for a positive turn-around for this week.

---

Added on June 11, 2010, 9:56 pmPanic Friday ?

Not really, a much weaker sales in May - profit taking lah after gain so much.

It is good to opportunity to see where there are some still cheap stocks to get some before the next leg up.

This post has been edited by danmooncake: Jun 11 2010, 09:56 PM

I'll be watching USA vs England this weekend! I'm rooting for underdog USA.

Closing update

Dow 10211.07 +38.54 +0.38%
Nasdaq 2243.60 +24.89 +1.12%
S&P 500 1091.60 +4.96 +0.44%

Very nice close.. A positive sign for this week!

As expected, weaker retail sales in May doesn't matter.
Hopefully this will carry the market into retest and try to break through the dreadful 1100 next week.

I'm long since Dow 9900 and SP 1060. If market falls next week, I got some buffer room here.

This post has been edited by danmooncake: Jun 12 2010, 05:15 AM

Near term, I think 1100 will be conquered. I'm ready to cash out my AAPL calls this week.

Yes, hopefully somewhere around there (between 260 and 265).
It all depends on whether SP500 can break through and close above the 200MA.

LVS is indeed a very strong stock.

Closing update
Dow 10190.89 -20.18 -0.20%
Nasdaq 2243.96 +0.36 +0.02%
S&P 500 1089.63 -1.97 -0.18%

The bulls assault to climb over 200MA failed today.. just stop short of reaching 1106 ,
then bad news about Greece downgrade came and push this bull rise back to last week close.

Damn Moody.. they must be shorting with their conspirators.

This post has been edited by danmooncake: Jun 15 2010, 05:52 AM

MB trade has demo account that you can try.

---

Added on June 15, 2010, 9:56 amThe 200MA is like a 1 meter thick concrete wall. All the bulls who stampede to it got crushed.
The bears behind this wall is laughing like crazy.



This post has been edited by danmooncake: Jun 15 2010, 09:56 AM

LVS - have to wait either a break out to the upside above 27 or dip slightly below 24 to get some.
UCO - holding some since 9
X - need to see if it can break above 47.
BP - playing a bit on the short side since 34. Going to cover that tonight.

This post has been edited by danmooncake: Jun 15 2010, 10:09 PM

Closing update:

Dow 10404.77 +213.88 +2.10%
Nasdaq 2305.88 +61.92 +2.76
S&P 500 1115.23 +25.60 +2.35%

FINALLY!! The bulls managed to cross over the 200MA (SP 1108) mark and closed nicely.

Closed out my rest of the AAPL June calls today, pocket 55% profits. Get more Aug calls for next month play.
iPhone 4 will be selling like hot cakes in US. Also, close my BP shorts - small profit only.

Still riding my other long bull stocks: TCK, ERX, TNA, UCO

I expect we may have a bit a pull back a little tomorrow, but most dips will be bought if SP1108 hold,
barring any bad news from Europe or elsewhere.

Go bulls go! At least all the way to 1150 to 1170. Then, time to reposition for short again.

This post has been edited by danmooncake: Jun 16 2010, 05:38 AM

So, all the local bank system uses Adobe Flash for their stocks trading app?

This post has been edited by danmooncake: Jun 16 2010, 09:13 PM

2nd chance for those who wanted to go long here...

I think I'm going to nimble at LVS here.. just too strong of upward momentum.
This thing can see $30 by next week.

I've nipped a little here at 26.40 with SL 25.90. I'm just playing a short term scalp here.
Let see how it plays out.

Closing update:
Dow 10409.46 +4.69 +0.05%
Nasdaq 2305.93 +0.05 +0.0%
S&P 500 1114.61 -0.62 -0.06%


Essentially a flat day. Almost at danger of tanking (below SP 1107).. luckily bulls came back
and pushed it up a few points higher to close.




This post has been edited by danmooncake: Jun 17 2010, 04:33 AM

I think AAPL will definitely be able to do that by end of this month if the market continues to move back up to 11K or higher.

Those new iPhones 4 are all sold out even before they're released. AAPL be reporting a very stellar quarter again.

MSFT now is pissing mad.. their software revenue is going stagnant, while AAPL going leaps and bounds and much higher.

---

Added on June 18, 2010, 5:31 amClosing update:
Dow 10434.17 +24.71 +0.24%
Nasdaq 2307.16 +1.23 +0.05%
S&P 500 1116.04 +1.43 +0.13%

Looks like we got a green close.. but, not all is well tonight.

I can see the broad sector for materials and some commodities selling off already.

The econ data that came out wasn't that good. Market not completely down yet but I think
it may not hold off much longer, perhaps until after opex day tomorrow, things maybe ugly
again by closing Friday or early next week.

Took some small profit in LVS, TNA and ERX . Going to hold off and stay in cash and see where this goes.
Going to stay at the sidelines on Opex Day.



This post has been edited by danmooncake: Jun 18 2010, 05:31 AM

Yes, HL zooming up. Have you look at TGB as alternative instead?

For mining stock, I'm still in TCK on my much longer than expected portfolio.
I'm up now after averaging down to $33.

Headline today:
"Teck Resources Target Raised To C$56.10 From C$54.10 By Desjardins >TCK"

Closing update:
Dow 10450.64 +16.47 +0.16%
Nasdaq 2309.80 +2.64 +0.11%
S&P 500 1117.51 +1.47 +0.13%

Nothing much tonight. No trading for me.

Just watched USA vs Slovenia game. Even traders at Wall Street watching game instead of stocks.
Great game, USA fought back so well in 2nd half, but spoiled by that blind and stupid referee.

This post has been edited by danmooncake: Jun 19 2010, 04:35 AM

Very good! Go long China (FXI and XPP!)

Let's watch SP 1140 to 1150 this week, this is crucial. The market needs to overcome this hurdle before it can blast up higher by earnings next month (in 2 weeks)!

I'm just going to let TCK ride up.. hopefully it can close above 36.50, then it has a chance to move higher.
Most, likely it will come back down to fill the gap first. Wow, My July AAPL 260 calls shot up 36%.
As always, AAPL is a true winner!

Closing update:
10442.41 -8.23 -0.08%
Nasdaq 2289.09 -20.71 -0.90%
S&P500 1113.20 -4.31 -0.39%

So much for China Yuan enthusiasm! This rally only lasted a few hours..



This post has been edited by danmooncake: Jun 22 2010, 04:51 AM